Jorge Martinez Wants to Start His Own Small Business, but He

question 30

True/False

Jorge Martinez wants to start his own small business, but he is concerned about competing against larger firms. Given his concerns, Jorge would probably be interested in starting a business that served a market niche.

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Definitions:

More Competent Employees

Workers who possess greater skills, knowledge, and ability to perform their job effectively compared to others.

Succession Planning

The process of identifying and developing new leaders who can replace old leaders when they leave, retire or pass away.

Key Individuals

People within an organization who play crucial roles in its operation and success, often due to their skills, knowledge, or position.

Layoff Strategies

Planned approaches by organizations to reduce workforce size through terminations or voluntary departures, often as a cost-saving measure or due to restructuring.